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FOUR  FETTERS 

RESPECTFULLY  DEDICATED  TO  THE 

WORKING  MEN  IF  AMERDOA. 


“ Error  of  opinion  may  safely  be  tolerated , where  reason  is  left  free  to  combat  it-  * 

In  times  like  the  present,  when  the  working  men  of  the  country  hold 
its  destinies  in  their  hands,  to  wield  them  for  good  or  ill,  and  when  all 
men,  even  bankers,  brokers,  speculators  and  non-producers  of  every 
description,  claim  to  be  the  exclusive  friends  of  the  laborer,  it  behoves 
them  to  look  about  with  enquiring  eyes,  and  after  proving  all  things,  to 
decide  for  themselves,  who  are  their  real  and  who  their  pretended  friends. 
To  aid  them  in  this  work  we  publish  the  following  letters  from  prominent 
and  distinguished  men;  and,  that  there  may  be  no  misapprehension  of  the 
first,  we  give  also  that  to  which  it  is  a reply. 

Philadelphia,  Aug.  20,  1840. 

To  the  Hon.  M.  Van  Buren,  President  of  the  United  States  : 

Dear  Sir — The  undersigned,  a portion  of  your  fellow-citizens,  request 
your  answers  to  the  following  queries — 

Are  you  in  favor  of  a Protective  Tariff? 

Did  you  vote  for,  or  support  a property  qualification  for  voters  in  the 
q Convention  of  New  York? 

o Are  you  in  favor  of  reducing  the  standard  of  Wages  ? 

Whether  you  are  in  favor  of  the  Secretary  of  War’s  plan  for  organizing 
I the  Militia  ? 

These  questions  are  not  made  for  the  purpose  of  unfriendly  criticism, 
<pbut  only  from  a sincere  wish  to  have  your  own  views  on  these  subjects. 

Your  Fellow  Citizens, 

ISAAC  LIPPINCOTT, 

WM.  R.  POTTS, 

G.  HAINES, 

N.  B.  EVANS, 

A.  S.  FERMAN, 

JOSEPH  FRAYER. 

Direct  to  Isaac  Lippincott,  No.  210  Callowhill  street. 


Washington,  Sept.  14th,  1840. 

Gentlemen  : — I have  received  your  letter  propounding  to  me  several* 
questions  upon  public  subjects,  and  assuring  me  that  they  are  not  put  for 
the  purpose  of  unfriendly  criticism,  but  from  a sincere  desire  to  have  my 
own  views  on  the  subjects  referred  to. 

In  reply  to  your  first  and  last  questions,  I send  you  a copy  of  a letter 


:'0 


2 


recently  addressed  to  several  citizens  of  Elizabeth  City  County,  Va.,  in 
which  you  will  find  the  information  you  desire. 

In  answer  to  your  second  question,  I send  you  a statement  of  my  entire 
course  in  the  New  York  Convention  upon  the  subject  of  the  elective 
franchise.  It  was  prepared  by  my  friends  at  Albany,  having  access  to  the 
best  means  of  information,  of  their  own  accord,  without  previous  commu- 
nication with  me,  and  published  there  under  their  own  signatures.  Upon 
a careful  examination  of  this  document,  I find  it  contains  a true  and  fair 
exposition  of  my  course  in  the  Convention  upon  the  subject  referred  to, 
and  I send  it  to  you  as  such. 

Your  remaining  question  is  whether  I “am  in  favor  of  reducing  the 
standard  of  wages.” 

Not  comprehending  precisely  the  idea  you  desire  to  convey  by  the  term 
“ the  standard  of  wages,”  it  will  be  necessary  in  order  to  meet  your 
wishes  fully,  that  I should  give  my  general  views  on  this  branch  of  your 
enquiry. 

The  labor  of  an  industrious  man  is  in  my  judgment  only  adequately 
rewarded,  when  his  wages,  together  with  the  assistance  of  those  members 
of  his  family,  from  whom  assistance  may  reasonably  be  required,  will 
enable  him  to  provide  comfortably  for  himself  and  them,  to  educate  his 
children,  and  lay  up  sufficient  for  the  casualties  of  life  and  the  wants  of 
advanced  age. 

To  accomplish  these  objects  it  is  necessary  that  the  pay  of  the  laborer 
should  bear  a just  proportion  to  the  prices  of  the  necessaries  and  comforts 
of  life ; and  all  attempts  to  depress  them  below  this  equitable  standard,  are 
in  my  opinion,  at  war  as  well  with  the  dictates  of  humanity,  as  with  a 
sound  and  rational  policy.  Left  to  itself,  and  free  from  the  blighting 
influence  of  partial  legislation,  monopolies,  congregated  wealth  and 
interested  combinations,  the  compensation  of  labor  will  always  preserve 
this  salutary  relation.  It  is  only  when  the  natural  order  of  society  is 
disturbed  by  one  or  other  of  these  causes,  that  the  wages  of  labor  become 
inadequate. 

The  people  of  the  United  States  may  be  truly  denominated  a nation  of 
laborers. — A vast  proportion  of  them  live  by  the  sweat  of  their  brow,  and 
the  continued  exercise  of  a persevering  industry.  It  was  with  a proper 
regard  to  this  condition,  that  the  system  of  Government  under  which  they 
live  was  originally  devised.  It  should  therefore,  in  my  opinion,  be  always 
so  administered,  as  to  insure  to  them,  as  far  as  possible,  a just  and  adequate 
reward  for  their  exertions,  as  well  as  a full  enjoyment  of  the  fruits  of  their 
industry. 

In  the  distribution  of  wealth  resulting  from  the  union  of  labor  and 
capital,  it  is  too  often  the  case  that  an  undue  proportion  falls  to  the  share  of 
the  latter.  The  discontinuance  of  partial  legislation,  which  I have  always 
advocated,  would  be  an  important  step  towards  correcting  this  inequality. 

It  has  ever  been  my  design  to  keep  these  objects  constantly  in  view. 
So  far  from  being  in  favor  of  reducing  the  wages  of  labor,  or  attempting  to 
render  the  services  required  disproportionate  to  the  rewards  received,  it 
cennot  be  unknown  to  vou  that  what  is  called  the  ten  hour  system. 


3 


oiiginally  devised  by  the  mechanics  and  laborers  themselves,  has  by  my 
directions  been  adopted,  and  uniformly  carried  out  at  all  the  public  estab- 
lishments, and  that  this  mitigation  of  labor  has  been  accompanljd  by  no 
corresponding  reduction  of  wages. 

I also  caused  it  to  be  distinctly  intimated  in  the  month  of  March  last,  to 
the  officers  of  such  of  these  establishments,  as  might  contemplate  a reduc- 
tion of  wages,  that  in  my  opinion,  the  present  peculiarly  uncertain  state  of 
things,  which  it  is  believed  results  from  circumstances  that  cannot  be  per- 
manent in  their  operation,  does  not  present  a just  and  proper  basis  for  a 
reduction  of  wages. 

I am  far  from  wishing  to  contribute  in  the  slightest  degree  to  the 
embarrassment  and  depression  of  the  laboring  classes . It  is  on  the  contrary 
my  most  earnest  and  constant  desire  that  their  industry  should  every 
where  and  at  all  times  be  amply  rewarded,  and  that  the  blessings  of  plenty 
should  be  liberally  diffused  among  those  who  contribute  most  to  their 
production. 

I am,  Gentlemen,  very  respectfully, 

Your  obedient  servant, 

M.  VAN  BUREN. 

Messrs.  Isaac  Lippincott,  Wm.  R.  Potts,  G.  Haines,  N.  B.  Evans, 
A.  S.  Ferman,  Jos.  Frayer. 


The  second  is  from  Marcus  Morton,  the  Democratic  Governor  of 
Massachusetts,  and  the  candidate  with  Mr.  Van  Buren  for  re-election.  It 
is  an  answer  to  a question  propounded  to  him  by  the  working  men  of 
Charlestown.  Distinct  and  to  the  point  as  it  is,  it  needs  neither  explana- 
tions or  commendations.  We  say,  therefore,  read  it  laborers,  and  judge 
for  yourselves. 

Tatjnton,  Aug,  20,  1840. 

Gentlemen ; 

It  gives  me  pleasure  to  comply  with  your  request.  I entirely  agree 
with  you,  “ that  each  individual  who  possesses  the  right  of  suffrage 
should  know  the  views  of  the  persons  presented  for  his  suffrage,  on  all  the 
important  topics  which  agitate  the  community.”  And  although  I have 
not  received  the  final  nomination,  yet  my  name  has  been  connected  with 
the  highest  office  in  the  Commonwealth,  by  such  authority  and  in  such 
form,  that  I consider  myself  standing  in  a relation  to  the  people,  which 
entitles  them  to  my  opinions  on  any  subject  upon  which  the  official  action 
of  the  Chief  Magistrate  may  have  an  influence. 

While  it  is  the  duty  of  every  government,  and  of  every  officer  of 
government,  to  endeavor  by  all  legitimate  means,  to  encourage  industry, 
to  secure  the  rights  and  the  enjoyment  of  property,  and  to  ensure  to  labor 
the  products  of  its  own  industry  and  an  adequate  remuneration  for  its 
services,  the  latter  requires  and  should  receive  its  peculiar  care  and  especial 
vigilance ; because  the  laboring  classes  are  the  most  numerous  classes, 


4 


because  they  are  the  most  useful,  and  because  they  stand  in  the  greatest 
need  of  protection.  From  the  nature  of  their  employments,  from  their 
dispersed  condition  over  the  country,  and  from  the  impossibility  of  concert 
of  action,  they  have  very  great  difficulty  in  asserting  their  just  rights  and 
maintaining  their  due  influence.  Is  there  an  inflation  of  the  currency,  the 
hard-handed  laborers  are  the  first  to  feel  the  consequent  rise  of  prices,  and 
the  last  to  gain  an  equivalent  in  the  increase  of  wages.  Is  there  a 
contraction  or  depression,  they  are  the  first  to  be  thrown  out  of  employ, 
or  to  have  their  wages  reduced.  Is  there  a suspension  of  specie  payments, 
they  are  sure  to  be  the  greatest  losers  by  the  depreciated  paper.  Is  there 
an  explosion  of  Banks,  they  are  the  last  to  be  informed  of  it,  and  therefore 
the  most  likely  to  have  the  worthless  promises  expire  in  their  hands. 
Every  fluctuation,  while  it  may  be  made  to  turn  to  the  profit  of  the  specu- 
lator, is  sure  both  in  its  ascent  and  descent,  to  bring  loss  and  distress  upon 
those  whose  attention  is  engrossed  by  the  pursuits  of  honest  industry. 
The  wisdom  of  our  patriotic  ancestors  foresaw  these  evils  and  provided 
against  their  recurrence,  the  strongest  safeguard  the  sagacity  of  man  could 
invent,  in  that  provision  of  our  excellent  constitution  which  makes  gold  and 
silver  the  standard  and  the  basis  of  our  circulating  medium. 

An  all-wise  Providence  has  created  man  with  various  capacities  and 
powers,  mental  and  physical,  admirably  adapted,  if  rightly  employed,  to 
supply  the  wants,  to  increase  the  comforts,  and  to  promote  the  happiness 
of  all.  It  should  be  the  highest  aim  of  a good  government  to  encourage 
by  every  means  within  its  province,  the  improvement  of  these  faculties  in 
that  way  and  to  that  degree,  that  will  render  them  most  useful ; and  the 
employment  of  all  these  powers  in  that  sphere  of  action,  to  which  they  are 
best  adapted,  and  in  which  they  will  best  contribute  to  the  well-being  of  the 
whole  human  family.  For  these  ends,  it  should  ever  be  the  aim  of 
government  to  secure  to  each  human  being  the  fruits  of  his  own  toil,  and 
to  make  those  fruits  commensurate  with  the  value  of  his  contributions  to 
the  common  stock. 

Knowledge  is  power.  And  there  is  always  danger  that  those  who 
possess  it,  may  add  to  it  cunning,  and  take  advantage  of  the  less  informed 
and  more  confiding,  to  depress  the  value  of  their  services,  and  to  deprive 
them  of  that  proportion  of  the  products  of  nature  and  art,  to  which  by  their 
contributions  they  are  justly  entitled.— Wealth,  not  less  than  knowledge, 
confers  power.  In  this  country,  property,  which  should  ever  be  held 
sacred,  draws  to  itself  adventitious  considerations  and  influence.  It  is  to 
its  possessor,  in  too  great  a degree,  a substitute  for  intelligence,  virtue  and 
patriotism.  Its  functions,  in  ministering  to  the  wants  and  promoting  the 
improvement  of  mankind,  are  highly  important.  But  it  may  be  used  for 
oppression  as  well  as  for  improvement ; and  when  wealth  and  knowledge 
and  cunning  are  united,  especially  ifin  hands  not  individually  responsible  for 
their  use,  they  possess  a power  dangerous  to  the  rights  of  labor ; a power 
too  often  used  to  destroy  the  freedom  of  mind,  as  well  as  to  depreciate  the 
labors  of  the  body  ; a power  stimulated  by  cupidity  and  made  to  minister 
to  ambition.  To  guard  against  the  unrighteous  exercise  of  such  a power, 
is  a high  duty  of  government,  as  difficult  as  it  is  important  to  exercise. 


5 


Much  cannot  be  done  by  direct  action.  It  will  evade  laws  and  break 
down  barrier^  created  for  its  restraint.  The  most  wise  and  efficient  mode 
of  checking  its  encroachments,  is  to  raise  by  moral  and  intellectual 
improvement  the  capacities  of  those  upon  whom  its  action  is  most  unjust 
and  oppressive  ; to  enable  them  to  resist  or  counteract  its  efforts.  The 
mind  must  be  improved  as  well  as  the  body.  If  the  whole  time  is  devoted 
to  the  labors  of  the  body,  the  cultivation  of  the  mind  will  necessarily  be 
neglected.  Encouragement  therefore  should  be  held  out  for  the  improve- 
ment of  our  moral,  intellectual  and  physical  powers. — But  this  must  depend 
mainly  upon  the  laborers  themselves.  Much,  very  much,  may  be  expected 
from  their  independence,  their  moral  firmness,  and  their  self-respect. 
They  must  never  forget  the  moral,  religious  and  political  equality  of  man- 
kind ; nor  the  consequent  obligation  upon  each  individual  to  prepare  him- 
self to  perform  his  equal  part  in  the  affairs  of  the  world.  They  must 
remember  the  responsibility  which  rests  upon  each  one,  to  be  governed 
by  the  convictions  of  his  own  mind,  undismayed  by  wealth  or  power, 
uninfluenced  by  appeals  to  passion,  or  unmeaning  parade. 

But  much  may  be  done  by  government,  and  much  by  public  sentiment, 
to  promote  a proper  tone  of  thought  and  action  on  these  subjects. — Each 
laborer  is  a freeman,  and  has  a right  to  labor  as  many  or  as  few  days,  and 
as  many  or  as  few  hours  in  each  day,  as  he  may  judge  right.  And  no 
human  power  has  a right  to  decide  for  him,  how  much  or  how  little  he 
shall  labor.  This  he  must  decide  for  himself,  upon  his  responsibility  to 
his  God.  Government  might,  if  it  was  expedient,  determine  how  many 
hours  should  be  deemed  a day-’s  work,  as  well  as  determine  how  many 
quarts  shall  be  called  a bushel,  or  how  many  pounds  a ton.  But  it  cannot 
properly  establish  the  price  of  a day’s  work,  or  coerce  individuals  to 
perform  more  or  less  than  a day’s  work  in  a day. 

But  while  a great  proportion  of  laborers  should  be  left  to  regulate  the 
time  of  labor  as  well  as  the  price,  for  themselves,  as  with  their  employers ; 
there  are  certain  branches  of  industry,  and  extensive  and  important  ones, 
too,  where,  from  the  number  employed  together,  and  the  nature  of  the 
business,  there  must  be  established  regular  hours  of  work,  to  which  all 
employed  must  consent  to  conform.  In  all  such  cases,  by  mutual  consul- 
tation between  laborers  and  employers,  such  hours  should  be  established, 
having  due  regard  to  the  interests  of  the  employers,  as  will  promote  the 
health,  the  comfort,  and  above  all,  the  moral  and  intellectual  improvement 
of  those  who  do  the  work.  And  I believe  it  is  a great  mistake  to  think, 
that  in  this  respect  their  interests  oppose  each  other.  Ten  hours , with 
fresh  and  vigorous  muscles,  and  a clear  and  intelligent  mind,  will  accom- 
plish more  and  better  work,  than  fourteen  with  a body  languid  and 
exhausted  by  long  continued  efforts,  and  a mind  rendered  dull  by  the 
lassitude  of  the  body.  If  this  be  so,  the  employed  might,  even  without 
injury  to  their  employers,  have  the  residue  of  the  day  for  reinvigorating  the 
system,  for  social  enjoyment,  and  for  the  improvement  of  their  mental  and 
moral  powers.  And  probably  ten  hours  labor  a day  is  as  much  as  the 
human  system  is  capable  of,  consistently  with  the  proper  preservation  and 
improvement  of  all  its  faculties.  Where  therefore  the  nature  of  the  busi- 


6 


ness  requires  that  uniform  hours  of  labor  should  be  estaonsneu,  more  than 
ten  hours  a day  would  seem  to  be  unreasonable.  I must  therefore  say, 
in  answer  to  your  direct  inquiry  in  relation  to  “the  introduction  of  the 
ten-hour  system”  into  the  United  States  service,  that  it  meets  my  entire 
and  cordial  approbation.  While  it  will  be  highly  beneficial  to  the  work- 
man, it  will  not,  in  my  opinion,  be  unfavorable  to  the  interests  of  the  United 
States. 

This  system,  as  it  acts  upon  a very  inconsiderable  portion  of  the  laborers 
of  the  country  may  be  thought  to  be  unimportant.  But  the  establishment 
of  a standard  measure  of  a days  work  may  grow  into  a general  usage  and 
extend  over  the  country,  so  as  to  govern  many  kinds  of  labor.  And  a 
usage,  which  would  give  to  laborers  several  hours  of  each  day,  for  innocent 
recreation,  for  friendly  intercourse,  and  for  the  cultivation  of  their  moral 
and  intellectual  faculties,  would  tend  to  improve  the  health,  the  social 
feelings,  the  intelligence  and  virtue,  and  the  general  happiness  and  real 
respectability,  as  well  as  the  efficiency  of  the  laboring  classes. 

1 am,  Gentlemen,  with  great  respect, 

Your  friend  and  fellow  citizen, 

MARCUS  MORTON. 

To  Messrs.  Oliver  J.  Conant,  President;  Wm.  D.  Butts,  Vice 
President;  Albert  M.  Simpson,  Secretary;  Phillip  B.  Holmes, 
Corresponding  Secretary;  of  a meeting  of  the  Mechanics  and  Working 
men  of  Charlestown  and  the  neighboring  towns. 


The  third  is  from  a source  no  less  eminent.  It  comes  from  a mind  free 
from  the  influence  of  political  ambition — from  a man  whose  whole  life  has 
been  devoted  to  the  promotion  of  peace  on  earth  and  good  will  among  men. 
Prominent  in  a body  whose  vocation  is  the  advancement  of  “ peace  and  con- 
cilation,”  his  friends  invited  himtto  participate  in  a public  festival,  the 
following  is  his  reply.  Those  who  are  familiar  with  the  productions  of 
Bishop  England  might  recognize  it,  brief  as  it  is,  had  he  not  affixed  his 
signature  to  it. 

Columbus,  July  25th,  1840. 

Gentlemen, —1  have  been  honored  by  your  invitation  to  attend,  on 
Tuesday  next,  at  the  feast  to  be  given  in  honor  of  certain  distinguished 
citizens  of  Georgia  and  Alabama,  by  the  Democratic  citizens  of  Muscogee 
county. 

Generally  speaking,  I think  it  would  be  more  prudent  for  me  to  unite 
with  my  fellow  citizens  only  at  the  ballot  box,  in  using  my  right  as  a 
member  of  the  Republic,  to  approve  or  to  censure  the  conduct  of  those  to 
whom  we  entrust  the  guardianship  of  our  liberties.  On  the  present  occa- 
sion I feel  the  additional  force  of  a monition  given  by  my  brethren,  at  the 
last  council  (a  few  months  since)  upon  this  very  subject,  in  a pastoral 
letter.  I trust,  then,  that  my  respectfully  declining  your  invitation  will 
not  be  considered  as  wanting  in  courtesy  to  you.  The  body  to  which  I 


7 


belong,  professes  to  be  one  of  peace  and  conciliation ; should  its  members 
unite  actively  with  political  parties  mutually  opposed,  while  each  declares 
that  it  seeks  only  the  prosperity  of  our  Republic,  their  capacity  to  promote 
peace  and  conciliation  would  be  at  an  end. 

You  will  feel  that  the  influence  of  such  a ministry  of  good  will,  would 
in  your  present  state  of  excitement,  be  useful  if  not  necessary,  and  I am 
sure  you  will  approve  of  the  determination  by  which  I am  bound.  I think 
however,  I may  venture  to  say  that  the  best  remedy  for  our  present 
unfortunate  position,  is  to  be  found  in  preferring  industry  to  speculation, 
labor  to  cabal,  economy  to  ostentation,  patient  and  persevering  frugality  to 
dissipation.  I therefore  consider  that  man  who  aids  in  making  our  lands 
productive,  to  be  our  most  useful  citizen  ; I regard  the  laborious,  well 
conducted  mechanic,  as  preferable  to  the  speculator  in  stocks,  or  to  the 
usurer.  The  former  creates  the  wealth  of  a nation,  the  latter  endeavors 
to  get  it  into  his  possession  under  the  pretext  of  its  management.  I also 
believe  that  our  Federal  Government  has  had  as  little  influence  in  produc- 
ing the  present  distress  in  our  states,  as  I had  in  producing  that  which 
afflicts  Europe ; and  that  it  has  as  little  power  to  alleviate  that  distress  as  it 
has  constitutional  right  to  interfere  with  its  causes. 

Some  of  our  most  eminent  citizens  have  expressed  deliberate  opinions 
widely  differing  from  mine.  I have  given  full  consideration  of  their  reas- 
oning but  cannot  come  into  their  conclusions.  In  one  point,  however,  I 
should  hope  we  could  all  unite ; that  laying  aside  unkind  feelings,  bitter- 
ness, strife  and  mere  partizan  attachments,  we  should  endeavor  to  bring 
back  our  habits  of  good  republican  simplicity ; and  zealous  for  our  country’s 
good,  endeavor,  by  the  peaceable  process  of  the  ballot  box,  to  place  in  the 
administration  of  our  government  those  citizens,  whom,  in  the  presence  of 
God,  we  should  conscientiously  regard  as  the  best  qualified  to  promote  the 
general  good,  by  the  sacrifice  of  predilections,  by  preserving  us  in  peace 
and  safety  in  our  domestic  relations,  in  our  sacred  homes,  and  maintaining 
us  in  full  possession  of  our  rights,  having  our  commerce  untrammelled  by 
monopoly,  by  sectional  preferences,  or  by  facilities  created  by  the  use  of 
the  public  purse,  and  by  sustaining  us  in  our  strength  by  having  the  bond 
of  our  Union  most  firmly  interwoven  by  our  affections,  so  as  to  secure  to 
us  the  respect  and  confidence  of  the  world  abroad.  It  is  the  good  of  our 
country  which  requires  that  we  should  endeavor  to  unite  all  our  fellow 
citizens  for  this  desirable  object.  Let  us  endeavor,  by  affectionate  inter- 
change of  views  to  effect  it. 

Believe  me  to  be,  with  sentiments  of  high  esteem,  your  obliged  fellow 
citizen, 

t JOHN,  Bishop  of  Charleston. 

To  John  H.  Howard,  Esq.,  Chairman,  and  the  other  members  of  the 
Committee  of  Democratic  Citizens,  Muscogee  County. 

The  fourth,  and  last,  comes  to  us  as  a voice  from  the  mighty  dead. 
It  was  written  by  the  father  of  our  country,  George  Washington,  to 
Thomas  Stone,  a Senator  in  the  legislature  of  Maryland,  and  as  truth  is 


8 


eternal,  knowing  neither  change  nor  the  shadow  of  change,  its  maxims 
apply  as  well  to  paper  mpney  and  its  baneful  influences  at  this  time,  as 
they  did  in  1787.  The  letter  will  be  found  on  page  231  of  the  9th  volume 
of  Spark’s  life  of  Washington. 

Mount  Vernon,  Va,  16  February,  1787. 

Dear  Sir : — Your  favor  of  the  30th  ult.  came  duly  to  hand.  To  give  an 
opinion  in  a cause  of  so  much  importance  as  that  which  has  warmly 
agitated  the  two  branches  of  your  legislature,  and-  which  from  the  appeal 
that  is  made,  is  likely  to  create  great  and  perhaps  dangerous  divisions,  is 
rather  a delicate  matter , but  as  this  diversity  of  opinion  is  on  a subject 
which  has,  I believe,  occupied  the  minds  of  most  men,  and  as  my  senti- 
ments thereon  have  been  fully  and  decidedly-  expressed  long  before  the 
Assembly  either  of  Maryland  or  this  State  was  convened,  I do  not  scruple 
to  declare,  that,  if  I had  a voice  in  your  Legislature,  it  would  have  been 
given  decidedly  against  a paper  emission  upon  the  general  principles  of 
its  utility  as  a representative,  and  the  necessity  of  it  as  a medium. 

To  assign  reasons  for  this  opinion,  would  be  as  unnecessary  as  tedious. 
The  ground  has  been  so  often  trod  that  a place  hardly  remains  untouched. 
In  a wrord,  the  necessity  arising  from  a want  of  specie  is  represented  as 
greater  than  it  really  is.  I contend  that  it  is  by  the  substance,  not  with  a 
shadow  of  a thing,  we  are  to  be  benefitted.  The  wisdom  of  man,  in 
my  humble  opinion,  cannot  at  this  time  devise  a plan  by  which  the  credit 
of  paper  money  would  be  long  supported,  consequently,  depreciation 
keeps  pace  with  the  quantity  of  the  emission,  and  articles  for  which  it  is 
exchanged  rise  in  a greater  ratio  than  the  sinking  value  of  the  money. 
Wherein,  then,  is  the  farmer,  the  planter,  the  artisan,  benefitted.  The 
debtor  may  be,  because,  as  I have  observed,  he  gives  the  shadow  in  lieu 
of  the  substance,  and  in  proportion  to  his  gain,  the  creditor  or  the  body 
politic  suffers.  Whether  it  be  a legal  tender  or  not,  it  will,  as  has  been 
observed  very  truly,  leave  no  alternative.  It  must  be  that  or  nothing. 
An  evil  equally  great  is,  the  door  it  immediately  opens  for  speculation,  by 
which  the  least  designing,  and  perhaps  most  valuable  part  of  the  commu- 
nity, are  preyed  upon  by  the  more  knowing  and  crafty  speculators. 

But  contrary  to  my  intention  and  declaration,  I am  offering  reasons  in 
support  of  my  opinions ; reasons  too,  which  of  all  others  are  least  pleasing 
to  the  advocate  of  paper  money.  I shall  therefore  only  observe  generally, 
that  so  many  people  have  suffered  by  former  emissions,  that,  like  a burnt 
child  who  dreads  the  fire,  no  person  will  touch  it  who  can  possibly  avoid 
it.  The  natural  consequence  of  which  will  be,  that  the  specie,  which 
remains  unexported,  will  be  instantly  locked  up. 

With  great  esteem  and  regard, 

I am,  dear  sir,  &c., 

GEORGE  WASHINGTON. 


Democratic  Union  Tracts  No.  11. 


